The Welsh drives-maker, Invertek Drives, has announced plans to expand into a new factory that will boost its production capacity from 150,000 to more than 400,000 drives per year, and create about 50 new jobs in the process. The 5,000m2 factory – which the Welsh Government is building at a cost of £5.6m – will be next to Invertek’s existing headquarters and production facility in Welshpool, which the company leases from the Government.

The new factory is due to open in 2017. Invertek is targeting a 50% increase in turnover by 2018, by when it expects to create 30 new jobs, rising to 50 when production ramps up to full capacity.

Detailed plans for the new plant are still being drawn up. These will then be submitted for planning permission.

Invertek says it needs the extra space to expand its operations, to improve its efficiency, and to enhance its capacity to meet the growing global demand for its products and services.

“This expansion is required to increase production capacity and to facilitate continual improvement throughout our materials, production and distribution operations,” explains operations director, Charles Haspel.

The Welsh economy minister Edwina Hart, who visited Invertek’s headquarters earlier this year, says that company’s expansion “will have a significant impact on the local economy as it increases production to meet the growing global demand for its products and creates new, high-skilled jobs over the next three years.”

Invertek's new factory will more than double its drives production capacity

Invertek was established in 1998 by a group of former Control Techniques employees. Over the past five years, it has doubled its turnover to £23m and it currently employs 190 people worldwide, including more than 170 in Welshpool. It is estimated that the company contributes more than £5m annually to the local economy.

More than 90% of Invertek’s output is exported and sold through distributors in more than 80 countries. It has subsidiaries in Germany and Poland, and trading operations in Malaysia and Indonesia.

“Backing from the Welsh Government helps us develop the world-leading technology and highly skilled workforce necessary to successfully compete on the world stage,” says Haspel.